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"Spiderman 4" was moved from a May 2011 release earlier this week but was cut from Columbia's production calendar altogether Monday, E! Online reported.

Franchise producers will re-make the series once the concept is re-worked, moving the "Spiderman" movie saga to Peter Parker's high-school days -- meaning star Tobey Maguire won't be playing Spidey.

"Spiderman" 1-3 director Sam Raimi is also off the Spidey movie team, execs announced. Raimi said working on the movies was the "experience of a lifetime" and that he thinks studios will do a "terrific job" on the new films.